UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For the month of January 2018
 
Commission File Number 0-28584
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
 (Translation of registrant's name into English)
 
5 Ha’solelim Street, Tel Aviv, Israel
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F ☒           Form 40-F ☐
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
 
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
 
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form, is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
Yes ☐          No ☒
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

 
INVESTOR CONTACT:
MEDIA CONTACT:
Kip E. Meintzer
Adolph Hunter
Check Point Software Technologies
Check Point Software Technologies
+1.650.628.2040
+1.650.628.2260
ir@checkpoint.com
press@checkpoint.com
 
CHECK POINT SOFTWARE TECHNOLOGIES REPORTS 2017 FOURTH QUARTER AND
 FULL YEAR FINANCIAL RESULTS
 
SAN CARLOS, CA – January 31, 2018 — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the fourth quarter and full year ended December 31, 2017.
 
Fourth Quarter 2017:
 
·
Total Revenue: $506 million, a 4 percent increase year over year
·
GAAP EPS: $1.46, an 11 percent increase year over year
·
Non-GAAP EPS: $1.58, an 8 percent increase year over year
 
Full Year 2017:
 
·
Total Revenue: $1,855 million, a 7 percent increase year over year
·
GAAP EPS: $4.82, a 15 percent increase year over year
·
Non-GAAP EPS: $5.33, a 13 percent increase year over year

“Fourth quarter revenues were in line with our projections while EPS exceeded the top end of our range.  As we move into 2018, the cyberattacks that organizations are experiencing today are now Gen V (5th Generation) while most enterprise security protections deployed are still below Gen III (3rd Generation)” Said Gil Shwed, Founder and CEO of Check Point Software Technologies. “To enable customers to bridge the gap we have launched Infinity Total Protection – a revolutionary security consumption model that is designed to enable organizations of all sizes to close the gap and prevent Gen V cyberattacks.”

Financial Highlights for the Fourth Quarter of 2017:
·
Total Revenue: $506 million compared to $487 million in the fourth quarter of 2016, a 4 percent increase year over year.
·
Security Subscriptions Revenues: $130 million compared to $110 million in the fourth quarter of 2016, an 18 percent increase year over year.
·
GAAP Operating Income: $267 million compared to $241 million in the fourth quarter of 2016, representing 53 percent and 50 percent of revenues in 2017 and 2016, respectively.
·
Non-GAAP Operating Income: $292 million compared to $266 million in the fourth quarter of 2016, representing 58 percent and 55 percent of revenues in 2017 and 2016, respectively.
·
GAAP Taxes on Income: $40 million compared to $30 million in the fourth quarter of 2016.
·
GAAP Net Income and Earnings per Diluted Share: GAAP net income was $239 million compared to $222 million in the fourth quarter of 2016. GAAP earnings per diluted share were $1.46 compared to $1.31 in the fourth quarter of 2016, an 11 percent increase year over year.
·
Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $259 million compared to $247 million in the fourth quarter of 2016.  Non-GAAP earnings per diluted share were $1.58 compared to $1.46 in the fourth quarter of 2016, an 8 percent increase year over year.
 
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   2

 
·
Deferred Revenues: As of December 31, 2017, deferred revenues were $1,187 million compared to $1,066 million as of December 31, 2016, an 11 percent increase year over year.
·
Cash Flow: Cash flow from operations of $248 million compared to $183 million in the fourth quarter of 2016.
·
Share Repurchase Program: During the fourth quarter of 2017, the company repurchased approximately 2.4 million shares at a total cost of approximately $250 million.
·
Cash Balances, Marketable Securities and Short Term Deposits: $3,848 million as of December 31, 2017, compared to $3,669 million as of December 31, 2016.

Financial Highlights for the Year Ended December 31, 2017
·
Total Revenues: $1,855 million compared to $1,741 million in 2016, a 7 percent increase year over year.
·
Security Subscriptions Revenues: $480 million compared to $390 million in 2016, a 23 percent increase year over year.
·
GAAP Operating Income: $924 million compared to $852 million in 2016, representing 50 percent and 49 percent of revenues in 2017 and 2016, respectively.
·
Non-GAAP Operating Income: $1,024 million compared to $948 million in 2016, representing 55 percent and 54 percent of revenues in 2017 and 2016, respectively.
·
GAAP Taxes on Income: $168 million compared to $172 million in 2016.
·
GAAP Net Income and Earnings per Diluted Share: GAAP net income was $803 million compared to $725 million in 2016. GAAP earnings per diluted share were $4.82 compared to $4.18 in 2016, a 15 percent increase year over year.
·
Non-GAAP Net Income and Earnings per Diluted Share: Non-GAAP net income was $888 million compared to $818 million in 2016. Non-GAAP earnings per diluted share were $5.33 compared to $4.72 in 2016, a 13 percent increase year over year.
·
Cash Flow: Cash flow from operations of $1,090 million compared to $926 million in 2016.
·
Share Repurchase Program: In 2017, the company repurchased approximately 9.5 million shares at a total cost of approximately $995 million.
 
For information regarding the non-GAAP financial measures discussed in this release, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures, please see “Use of Non-GAAP Financial Information” and “Reconciliation of GAAP to Non-GAAP Financial Information.”

Latest Business Highlights
The threat landscape has evolved into its 5th generation. All business sectors are now experiencing Gen V  cyberattacks which are characterized by polymorphic malware that is moving fast and attacks a broad set of targets.  These sophisticated attacks on mobile, cloud and enterprise networks utilize sophisticated code and bypass conventional, static detection-based defenses being used by most organizations today.  To protect networks and data against these attacks, organizations need to advance to Gen V cyber-security utilizing Check Point Infinity, which combines real-time threat prevention, behavioral analysis, shared intelligence and the most advanced security across networks, cloud and mobile.

Infinity Total Protection is a game-changing new consumption model with a simple all-inclusive, per-user, per-year subscription.  The offering enables enterprises to fully utilize Gen V security across their entire network.  Infinity Total Protection is a subscription solution that includes both network security hardware and software, with fully integrated endpoint, zero-day threat prevention, cloud and mobile protections, combined with unified management and 24×7 premium support.
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   3

 
‘Gen V’ Security Management: The latest Smart-1 Appliances power Gen V security management by delivering management storage capacity of up to 48TB, logging rates of up to 100,000 logs/sec and a performance boost of up to 8x compared to previous models. This enables exceptional security management performance across network, cloud and mobile environments for efficient Gen V cyber protection with holistic, single-console security management and the ability to correlate, store and analyze huge amounts of new and historic data from thousands of network devices.

Highest Security Effectiveness and Lowest TCO Scores:  In NSS Labs’ First-Ever Breach Prevention System Test Check Point SandBlast received a recommended rating while achieving the highest level of security effectiveness and the lowest total cost of ownership. The recommended rating further validates Check Point’s substantial ability to protect organizations by preventing even the most advanced cyberattacks.
 
“Our industry is at an inflection point where cyberattacks are becoming increasingly more sophisticated and security infrastructure needs to significantly advance to effectively combat these threats. Enterprises need to adopt Gen V cyber protections. This year, we will focus on enabling our customers to make this generational leap in security infrastructure.” concluded Shwed.

Conference Call and Webcast Information
Check Point will host a conference call with the investment community on January 31, 2018, at 8:30 AM ET/5:30 AM PT. To listen to the live webcast or replay, please visit the website at: www.checkpoint.com/ir.

First Quarter 2018 Investor Conference Participation Schedule:
 
·
Goldman Sachs Technology & Internet Conference 2018
February 14, 2018 –San Francisco, CA
 
·
Morgan Stanley 2018 Media, Telecommunications & Technology Conference
February 26, 2018 –San Francisco, CA
 
·
Susquehanna 7th Annual Semi & Technology Conference
March 14, 2018 – New York, NY
 
Members of Check Point's management team are expected to present at these conferences and discuss the latest company strategies and initiatives. Check Point’s conference presentations are expected to be available via webcast on the company's web site. To view these presentations and access the most updated information please visit the company's web site at www.checkpoint.com/ir. The schedule is subject to change.

About Check Point Software Technologies Ltd.
Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading provider of cyber security solutions to governments and corporate enterprises globally. Its solutions protect customers from cyberattacks with an industry leading catch rate of malware, ransomware and other types of attacks. Check Point offers a multilevel security architecture that defends enterprises’ cloud, network and mobile device held information, plus the most comprehensive and intuitive one point of control security management system. Check Point protects over 100,000 organizations of all sizes.

©2018 Check Point Software Technologies Ltd. All rights reserved

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding our products and solutions, including the Check Point Infinity architecture and our participation in investor conferences during the first quarter of 2018.  Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected.  These risks include our ability to continue to develop platform capabilities and solutions; customer acceptance and purchase of our existing solutions and new solutions; the market for IT security continuing to develop; competition from other products and services; and general market, political, economic and business conditions.  The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and  Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 28, 2017.  The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   4


Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, Check Point uses non-GAAP measures of operating income, net income and earnings per diluted share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets and acquisition related expenses and the related tax affects. Check Point’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of Check Point’s ongoing core operations and prospects for the future. Historically, Check Point has also publicly presented these supplemental non-GAAP financial measures in order to assist the investment community to see the Company “through the eyes of management,” and thereby enhance understanding of its operating performance. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release to the most directly comparable GAAP financial measures is included with the financial statements contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors.
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   5


CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONSOLIDATED STATEMENT OF INCOME

 (In thousands, except per share amounts)

   
Three Months Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(audited)
 
Revenues:
                       
   Products and licenses
 
$
165,709
   
$
177,055
   
$
559,026
   
$
572,964
 
   Security subscriptions
   
130,013
     
110,482
     
480,352
     
389,885
 
Total revenues from products and security subscriptions
   
295,722
     
287,537
     
1,039,378
     
962,849
 
                                 
   Software updates and maintenance
   
210,286
     
199,170
     
815,280
     
778,452
 
Total revenues
   
506,008
     
486,707
     
1,854,658
     
1,741,301
 
                                 
Operating expenses:
                               
   Cost of products and licenses
   
29,743
     
32,559
     
104,210
     
105,967
 
   Cost of security subscriptions
   
5,616
     
4,146
     
18,869
     
10,841
 
Total cost of products and security subscriptions
   
35,359
     
36,705
     
123,079
     
116,808
 
   Cost of Software updates and maintenance
   
22,534
     
21,475
     
87,700
     
83,011
 
   Amortization of technology
   
546
     
546
     
2,184
     
2,184
 
Total cost of revenues
   
58,439
     
58,726
     
212,963
     
202,003
 
                                 
   Research and development
   
50,704
     
47,741
     
192,386
     
178,372
 
   Selling and marketing
   
106,596
     
116,824
     
433,427
     
420,526
 
   General and administrative
   
23,758
     
22,006
     
91,965
     
88,130
 
Total operating expenses
   
239,497
     
245,297
     
930,741
     
889,031
 
                                 
Operating income
   
266,511
     
241,410
     
923,917
     
852,270
 
Financial income, net
   
13,127
     
10,494
     
47,029
     
44,402
 
Income before taxes on income
   
279,638
     
251,904
     
970,946
     
896,672
 
Taxes on income
   
40,330
     
29,950
     
168,023
     
171,825
 
Net income
 
$
239,308
   
$
221,954
   
$
802,923
   
$
724,847
 
                                 
Basic earnings per share
 
$
1.49
   
$
1.33
   
$
4.93
   
$
4.26
 
Number of shares used in computing basic earnings per share
   
160,398
     
167,220
     
162,720
     
170,155
 
                                 
Diluted earnings per share
 
$
1.46
   
$
1.31
   
$
4.82
   
$
4.18
 
Number of shares used in computing diluted earnings per share
   
164,334
     
169,557
     
166,662
     
173,296
 

©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   6

 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED FINANCIAL METRICS

 (In thousands, except per share amounts)

   
Three Months Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
                         
Revenues
 
$
506,008
   
$
486,707
   
$
1,854,658
   
$
1,741,301
 
Non-GAAP operating income
   
292,129
     
266,380
     
1,024,412
     
948,132
 
Non-GAAP net income
   
259,224
     
247,197
     
888,027
     
818,242
 
Diluted Non-GAAP Earnings per share
 
$
1.58
   
$
1.46
   
$
5.33
   
$
4.72
 
Number of shares used in computing diluted Non-GAAP earnings per share
   
164,334
     
169,557
     
166,662
     
173,296
 

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
RECONCILIATION OF GAAP TO NON GAAP FINANCIAL INFORMATION

 (In thousands, except per share amounts)

   
Three Months Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
                         
GAAP operating income
 
$
266,511
   
$
241,410
   
$
923,917
   
$
852,270
 
Stock-based compensation (1)
   
22,359
     
21,698
     
87,459
     
82,732
 
Amortization of intangible assets and acquisition related expenses (2)
   
3,259
     
3,272
     
13,036
     
13,130
 
Non-GAAP operating income
 
$
292,129
   
$
266,380
   
$
1,024,412
   
$
948,132
 
                                 
GAAP net income
 
$
239,308
   
$
221,954
   
$
802,923
   
$
724,847
 
Stock-based compensation (1)
   
22,359
     
21,698
     
87,459
     
82,732
 
Amortization of intangible assets and acquisition related expenses (2)
   
3,259
     
3,272
     
13,036
     
13,130
 
Taxes on the above items (3)
   
(5,702
)
   
273
     
(15,391
)
   
(2,467
)
Non-GAAP net income
 
$
259,224
   
$
247,197
   
$
888,027
   
$
818,242
 
                                 
Diluted GAAP Earnings per share
 
$
1.46
   
$
1.31
   
$
4.82
   
$
4.18
 
Stock-based compensation (1)
   
0.13
     
0.13
     
0.52
     
0.48
 
Amortization of intangible assets and acquisition related expenses (2)
   
0.02
     
0.02
     
0.08
     
0.07
 
Taxes on the above items (3)
   
(0.03
)
   
-
     
(0.09
)
   
(0.01
)
Diluted Non-GAAP Earnings per share
 
$
1.58
   
$
1.46
   
$
5.33
   
$
4.72
 
                                 
Number of shares used in computing diluted Non-GAAP earnings per share
   
164,334
     
169,557
     
166,662
     
173,296
 
                                 
(1) Stock-based compensation:
                               
   Cost of products and licenses
 
$
38
   
$
16
   
$
115
   
$
66
 
   Cost of software updates and maintenance
   
694
     
552
     
2,626
     
2,087
 
   Research and development
   
4,252
     
3,427
     
16,233
     
12,718
 
   Selling and marketing
   
4,836
     
5,857
     
18,278
     
19,168
 
   General and administrative
   
12,539
     
11,846
     
50,207
     
48,693
 
     
22,359
     
21,698
     
87,459
     
82,732
 
                                 
(2) Amortization of intangible assets and acquisition related expenses:
                               
   Amortization of technology-cost of revenues
   
546
     
546
     
2,184
     
2,184
 
   Research and development
   
1,897
     
1,897
     
7,588
     
7,588
 
   Selling and marketing
   
816
     
829
     
3,264
     
3,358
 
     
3,259
     
3,272
     
13,036
     
13,130
 
                                 
(3) Taxes on the above items
   
(5,702
)
   
273
     
(15,391
)
   
(2,467
)
                                 
Total, net
 
$
19,916
   
$
25,243
   
$
85,104
   
$
93,395
 
 
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   7

CHECK POINT SOFTWARE TECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEET DATA

(In thousands)

ASSETS
   
December 31,
   
December 31,
 
   
2017
   
2016
 
   
(unaudited)
   
(audited)
 
Current assets:
           
Cash and cash equivalents
 
$
245,014
   
$
187,428
 
Marketable securities and short-term deposits
   
1,165,716
     
1,185,499
 
Trade receivables, net
   
472,223
     
478,507
 
Prepaid expenses and other current assets
   
81,478
     
41,021
 
Total current assets
   
1,964,431
     
1,892,455
 
                 
Long-term assets:
               
Marketable securities
   
2,437,315
     
2,296,097
 
Property and equipment, net
   
77,767
     
61,859
 
Deferred tax asset, net
   
119,431
     
94,608
 
Goodwill and other intangible assets, net
   
830,407
     
834,167
 
Other assets
   
33,575
     
38,450
 
Total long-term assets
   
3,498,495
     
3,325,181
 
                 
Total assets
 
$
5,462,926
   
$
5,217,636
 

LIABILITIES AND
SHAREHOLDERS’ EQUITY
Current liabilities:
           
Deferred revenues
 
$
878,287
   
$
814,418
 
Trade payables and other accrued liabilities
   
328,638
     
351,440
 
Total current liabilities
   
1,206,925
     
1,165,858
 
                 
Long-term liabilities:
               
Long-term deferred revenues
   
308,286
     
251,166
 
Income tax accrual
   
337,453
     
300,536
 
Accrued severance pay
   
10,139
     
8,953
 
     
655,878
     
560,655
 
                 
Total liabilities
   
1,862,803
     
1,726,513
 
                 
Shareholders’ equity:
               
Share capital
   
774
     
774
 
Additional paid-in capital
   
1,305,130
     
1,139,642
 
Treasury shares at cost
   
(5,893,182
)
   
(4,956,172
)
Accumulated other comprehensive loss
   
(15,634
)
   
(9,250
)
Retained earnings
   
8,203,035
     
7,316,129
 
Total shareholders’ equity
   
3,600,123
     
3,491,123
 
                 
Total liabilities and shareholders’ equity
 
$
5,462,926
   
$
5,217,636
 
                 
Total cash and cash equivalents, marketable securities and short-term deposits
 
$
3,848,045
   
$
3,669,024
 

©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   8

 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
SELECTED CONSOLIDATED CASH FLOW DATA
 
(In thousands)

   
Three Months Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2017
   
2016
   
2017
   
2016
 
   
(unaudited)
   
(unaudited)
   
(unaudited)
   
(unaudited)
 
Cash flow from operating activities:
                       
Net income
 
$
239,308
   
$
221,954
   
$
802,923
   
$
724,847
 
Adjustments to reconcile net income to net cash provided by operating activities:
                               
Depreciation of property and equipment
   
3,586
     
2,391
     
12,876
     
10,883
 
Amortization of intangible assets
   
940
     
953
     
3,760
     
3,853
 
Stock-based compensation
   
22,359
     
21,698
     
87,459
     
82,732
 
Realized loss (gain) on marketable securities
   
4
     
(126
)
   
176
     
(2,993
)
Decrease (increase) in trade and other receivables, net
   
(185,036
)
   
(218,044
)
   
11,899
     
(56,510
)
Increase in deferred revenues, trade payables and other accrued liabilities (*)
   
130,781
     
194,785
     
105,875
     
213,935
 
Excess tax benefit from stock-based compensation
   
-
     
(9,180
)
   
-
     
(17,380
)
Deferred income taxes, net
   
36,124
     
(31,611
)
   
64,630
     
(33,487
)
Net cash provided by operating activities
   
248,066
     
182,820
     
1,089,598
     
925,880
 
                                 
Cash flow from investing activities:
                               
                                 
Investment in property and equipment
   
(6,297
)
   
(6,257
)
   
(28,784
)
   
(24,050
)
Net cash used in investing activities
   
(6,297
)
   
(6,257
)
   
(28,784
)
   
(24,050
)
                                 
Cash flow from financing activities:
                               
Proceeds from issuance of shares upon exercise of options
   
7,488
     
49,357
     
127,518
     
129,196
 
Purchase of treasury shares
   
(249,704
)
   
(247,960
)
   
(995,322
)
   
(987,897
)
Excess tax benefit from stock-based compensation
   
-
     
9,180
     
-
     
17,380
 
Payments related to shares withheld for taxes (*)
   
(561
)
   
(94
)
   
(5,397
)
   
(3,031
)
Net cash used in financing activities
   
(242,777
)
   
(189,517
)
   
(873,201
)
   
(844,352
)
                                 
Unrealized loss on marketable securities, net
   
(15,546
)
   
(25,877
)
   
(8,592
)
   
(3,868
)
                                 
Increase (decrease) in cash and cash equivalents, marketable securities and short term deposits
   
(16,554
)
   
(38,831
)
   
179,021
     
53,610
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the beginning of the period
   
3,864,599
     
3,707,855
     
3,669,024
     
3,615,414
 
                                 
Cash and cash equivalents, marketable securities and short term deposits at the end of the period
 
$
3,848,045
   
$
3,669,024
   
$
3,848,045
   
$
3,669,024
 

(*) 
Payments related to shares withheld for taxes during the three and twelve month periods ending December 31, 2017 were reclassified from operating activity to financing activity following ASU 2016-09 adoption.
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   9

 
Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
CHECK POINT SOFTWARE TECHNOLOGIES LTD.
 
       
 
By:
/s/ Tal Payne  
    Tal Payne  
    Chief Financial Officer & Chief Operating Officer  
 
January 31, 2018
 
©2018 Check Point Software Technologies Ltd. All rights reserved   |   P.   10